Price quotes of US feed-grade whey remained unchanged in the range of US$463-650/tonne.

Market analysis

Feed millers were prudent as the inventories of sow shrank during September against expectations. In view of low piglet population, feed millers withheld the buying of whey. However, as import costs stayed firm traders held prices unchanged to sustain profitability.

Market forecast

The prices of hog in the US have dropped a whopping 32% during Q3. This will in turn limit hog production, hence exerting pressure on whey prices.

With import prices set to stay weak and the domestic demand for piglet feed limited, whey prices are projected to slide further in China.

Remarks: Prices refer to port transaction prices of low-protein whey and are for reference only.